Brookstone Capital Management Grows Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Brookstone Capital Management raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,370 shares of the company’s stock after acquiring an additional 549 shares during the quarter. Brookstone Capital Management’s holdings in Wheaton Precious Metals were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC raised its position in shares of Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock worth $1,008,743,000 after purchasing an additional 292,968 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 1.0% in the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after acquiring an additional 197,426 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wheaton Precious Metals by 1.7% during the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after acquiring an additional 272,918 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Wheaton Precious Metals by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after purchasing an additional 1,010,307 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in Wheaton Precious Metals by 22.5% in the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after purchasing an additional 1,092,480 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WPM shares. Raymond James lifted their price target on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Bank of America raised their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Berenberg Bank raised their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $69.88.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $60.91 on Tuesday. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $64.82. The company’s 50 day moving average price is $60.37 and its 200 day moving average price is $56.71. The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 48.34, a PEG ratio of 2.20 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same quarter in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.43 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 49.21%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.